Yes it's their fault because they don't offer a currency that allows for stable prices.
The shops price in fiat because prices are relatively stable. Not perfectly stable of course, could be bette, but much more stable than Bitcoin.
Discussion
And again - how would you think a new monetary system would evolve?
You really think the way it would is Like:
„Here, I made this new Willynilly-currency: I will set the Price for 100g of bread to 10 Willynillys.“
And everything accepts this and a new currency is born? Really?
No, you need to have network effects and a mechanism to control supply so that the amount in circulation roughly matches the goods and services on offer.
This is really hard so only governments currently can do it.
Bitcoin and network effect? - Check
Controlling Money Supply in Bitcoin? - Check
Control of supply in goods and Services in circulation and offer is NOT needed (wtf?!?!). —>Otherwise gold would not function at all.
So honest question: What is the Problem again?
> Bitcoin and network effect? - Check
A network for a currency would be a circular economy of buyers and sellers. There's no such thing.
> Controlling Money Supply in Bitcoin? - Check
Controlling doesn't mean limiting. It means the supply can be increased or decreased to match the goods and services on offer.
The supply of Bitcoin can not be decreased and not be increased above 21m.
> Control of supply in goods and Services in circulation and offer is NOT needed (wtf?!?!). —
Nowhere did I say "control of supply in goods and services". We live in a free world and can offer as much or as little as we like.
However the supply of money has to roughly match the supply of goods and services for prices to be stable.
> Otherwise gold would not function at all.
It doesn't. There are as many shops doing business in gold as there are in Bitcoin. None.
> So honest question: What is the Problem again?
The above.
Sorry I think we won‘t get to a Common Sense.
All I can say is
Sry sent by mistake…
All I can say is:
How can you deny the network effect? This is just plain naive. Bitcoin Adoption is growing everywhere.
Circular Economy is not here - YET.
Bit you know what? This is exactly how a Network effect would come in place. It doesn‘t make a big „BANG“ and everything is there at once.
Instead naturally growing - that’s exactly whats happening now.
Monetary Supply has NOT to be decreased or lowered to match goods and services.
If you believe so I don‘t think we can come to a common sense 🤷♂️.
In the past humanity used Gold coins.
The Problem with that was not the fact that the Gold coin Supply couldn‘t be increased fast.
(First time I would hear this argument)
The Problem was the divisibility, the transferability and that it could be altered with (which was done a lot)
But all of these points are solved by Bitcoin.
So again - I don‘t see your arguments. In my view they are plain wrong 🤷♂️.
So I guess: agree to disagree?
But I would love to have this conversation again in 5 years!
Especially regarding the newtwork effect 😊.
So it's not a scam anymore then? Or drug money, government will ban, boiling the oceans etc? It's just not widely accepted enough now, is that the new FUD?? Lol
Yeah nah I don't buy the scam/drug/energy aspects. It's just not widely accepted and never will be, lacking a mechanism for stable prices.
I think you will be wrong in the „never will be“.
…. especially if your main argument is the lacking mechanism for stable prices.
But we will see I guess - love to talk to you again in 5 years about the development 😉
Will do.
Imagine thinking fiat money will be a “mechanism for stable prices”
🤡
It's pretty good. Feel free to plot the price stability of fiat against the price stability of Bitcoin.